NZD/EUR could slip further to 0.6350 this week - Westpac

NZD/EUR has slipped recently, mostly due to signals from ECB officials that an announcement regarding monetary policy normalisation could come as early as September and according to Imre Speizer, Research Analyst at Westpac, the cross could slip further to 0.6350 this week.

Key Quotes

“It’s a relatively light data calendar this week with industrial production and trade for May likely to be of interest.”

“3 months ahead: European economic data is improving, witness sentiment surveys at six year highs. However, after easing recently, political tensions in the EU could still resurface, with Austria calling early elections in 4Q, and a chance of early elections in Italy. Adverse developments could push NZD/EUR beyond 0.66.”